DANANTARA AND EFFORTS TO SUPPORT INDONESIA AS A WORLD CENTER FOR SHARIA FINANCE: STRATEGIC ANALYSIS
DOI:
10.54443/morfai.v6i1.4864Published:
2025-12-26Downloads
Abstract
Indonesia has the ambition to become a global Islamic financial center, leveraging its significant potential. This study analyzes the strategy of Danantara, a state-owned financial holding company, in supporting this national ambition. Through a bibliometric analysis of relevant literature (100 articles, 980 citations, h-index 14) using VOSviewer and a review of the proposed strategic framework, this study identifies key thematic clusters: finance, halal industry, financial literacy, MSMEs, digital Islamic banking, and stakeholder engagement. The findings highlight Danantara's central role as a candidate for an Islamic Financial District (IFD). A comprehensive five-pillar strategy is considered crucial: 1) strengthening the ecosystem and institutions; 2) developing world-class physical and digital infrastructure centered in Danantara; 3) improving the quality of human resources and attracting global talent; 4) developing competitive product innovations; and 5) developing strong international markets and promotions. This study concludes that the effective implementation and orchestration of this integrated strategy by Danantara is crucial for Indonesia to realize its vision as a leading global Islamic financial center, contributing significantly to the national economy and its international position.
Keywords:
Danantara Islamic Finance Islamic Financial Center StrategyReferences
Afzal, M. M., Pariyo, G. W., Lassi, Z. S., & Perry, H. B. (2021). Community health workers at the dawn of a new era: 2. Planning, coordination, and partnerships. Health Research Policy and Systems, 19, 1–17.
Aria, M., Le, T., Cuccurullo, C., Belfiore, A., & Choe, J. (2024). openalexR: An R-Tool for Collecting Bibliometric Data from OpenAl
ex. R J., 15(4), 167–180.
Askari, H., Sanadgol, N., Azarnezhad, A., Tajbakhsh, A., Rafiei, H., Safarpour, A. R., Gheibihayat, S. M., Raeis-Abdollahi, E., Savardashtaki, A., & Ghanbariasad, A. (2021). Kidney diseases and COVID-19 infection: causes and effect, supportive therapeutics and nutritional perspectives. Heliyon, 7(1).
Barney, J. B. (2021). The emergence of resource-based theory: A personal journey. Journal of Management, 47(7), 1663–1676.
Basrowi, B., Suryanto, T., Anggraeni, E., & Nasor, M. (2020). The effect of Islamic financial literation and financial technology on Islamic financial inclusion. AL-FALAH: Journal of Islamic Economics, 5(2), 231–263.
Cheng, P., Tang, H., Dong, Y., Liu, K., Jiang, P., & Liu, Y. (2021). Knowledge mapping of research on land use change and food security: a visual analysis using CiteSpace and VOSviewer. International Journal of Environmental Research and Public Health, 18(24), 13065.
Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a bibliometric analysis: An overview and guidelines. Journal of business research, 133, 285–296.
Grisanto, R. G. S., Wiryono, S. K., & Sunitiyoso, Y. (2025). Key drivers for successful integration of Indonesian State-Owned Holding: a Soft Systems Methodology approach. Cogent Business & Management, 12(1), 2483378.
Hakim, F. L., Sulistiyono, A., & Suwadi, P. (2024). Consumer Dispute Resolution Body Authority: An Examination of The Components of Default In Consumer Disputes. Proceedings of the International Conference on Law, Economic & Good Governance (IC-LAW 2023), 827, 96.
Hassan, M. K., Rabbani, M. R., & Chebab, D. (2021). Integrating Islamic finance and halal industry: current landscape and future forward. International Journal of Islamic Marketing and Branding, 6(1), 60–78.
Karyatun, S. (2023). Linking subjective financial well-being and compulsive buying behavior among college students: How Islamic financial literacy makes different. SERAMBI: Jurnal Ekonomi Manajemen dan Bisnis Islam, 5(2), 119–134.
Kasdi, A., Farida, U., & Cahyadi, I. F. (2019). Wali city branding: Marketing strategy in promoting halal tourism destinations Demak Indonesia. Geo Journal of Tourism and Geosites, 25(2), 463–473.
Kevser, M., & Doğan, M. (2021). Islamic financial literacy and its determinants: A field study on Turkey. Journal Transition Studies Review, 28(1), 91–120.
Oladapo, I. A. (2024). Financial Literacy in Saudi Arabian Msmes: Insights from Islamic Banks’ Customers. Innovations, 21(4), 25–34.
Pan, H., Wu, Y., & Choguill, C. (2023). Optimizing the rural comprehensive land consolidation in China based on the multiple roles of the rural collective organization. Habitat International, 132, 102743.
Rafiki, A., Pananjung, A. G., & Nasution, M. D. T. P. (2023). Strategies and applications of islamic entrepreneurship. IGI Global.
Randeree, K. (2019). Challenges in halal food ecosystems: the case of the United Arab Emirates. British Food Journal, 121(5), 1154–1167.
Rizal, A., Fauziyah, N. E., Ma’ruf, A., & Susilo, A. (2020). Integrating Zakah and Waqf for Developing Islamic Economic Boarding School (IEBS) Project in Indonesia. Journal of Islamic Economics and Philanthropy, 2(4).
Rygh, A., & Benito, G. R. G. (2022). Governmental goals and the international strategies of state-owned multinational enterprises: a conceptual discussion. Journal of Management and Governance, 26(4), 1155–1181.
Sukmana, R., & Trianto, B. (2025). The effect of Islamic financial literacy on business performance with emphasis on the role of Islamic financial inclusion: case study in Indonesia. Journal of Islamic Marketing, 16(1), 166–192.
Tawse, A., & Tabesh, P. (2021). Strategy implementation: A review and an introductory framework. European Management Journal, 39(1), 22–33.
Vagliasindi, M., Cordella, T., & Clifton, J. (2023). Introduction: Revisiting the role of state-owned enterprises in strategic sectors. Journal of Economic Policy Reform, 26(1), 1–23.
Zhou, S. S., Zhou, A. J., Feng, J., & Jiang, S. (2019). Dynamic capabilities and organizational performance: The mediating role of innovation. Journal of management & organization, 25(5), 731–747.
License
Copyright (c) 2026 Ali Akhmadi
This work is licensed under a Creative Commons Attribution 4.0 International License.
Downloads
How to Cite
